C-67.3 - Act respecting financial services cooperatives

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382.1. After informing a member of a credit union in writing of the grounds invoked and giving the member an opportunity to submit observations, the federation may suspend or expel the member from the credit union if it believes that the member’s activities
(1)  represent an unacceptable financial risk for the credit union; or
(2)  are contrary to the credit union’s interests.
Before exercising the power given it in the first paragraph, the federation must inform the credit union of its intention and give it an opportunity to submit observations.
The federation informs the credit union of its decision. The credit union informs the member and enters the decision in its register.
2003, c. 20, s. 26.